Iraq Business News brings you the latest Iraq banking & finance news, with information on developments and opportunities.
By John Lee. The Central Bank of Iraq (CBI) has reported that 35 banks and 11 remittance companies took part in its currency auction on Tuesday. A total of $159,961,907 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. Nikkei Asian Review reports that state-owned Japan Bank for International Cooperation (JBIC) and the country's two leading commercial banks -- Bank of Tokyo-Mitsubishi UFJ and Sumitomo Mitsui Banking -- are preparing to make Japan's first loan to Iraq in 31 years. The consortium will support an Iraqi government power project with a […]
Genel Energy Holding Company Limited has announced a reverse tender offer (the 'Buy-Back Offer') to holders of Genel Energy Finance plc's ('the Issuer') USD 730 million GENEL01 PRO senior unsecured callable bonds with ISIN NO0010710882 (the 'Bonds'). All bondholders, subject to legal constraints, are invited to offer Bonds to the Company, being the sole shareholder […]
By John Lee. The Central Bank of Iraq (CBI) has reported that 37 banks and 11 remittance companies took part in its currency auction on Thursday. A total of $159,075,819 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 35 banks and 11 remittance companies took part in its currency auction on Wednesday. A total of $161,036,814 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
By John Lee. The Central Bank of Iraq (CBI) has reported that 22 banks and 11 remittance companies took part in its currency auction on Tuesday. A total of $125,278,000 sold at a price of 1184 Iraqi Dinars (IQD) per dollar. (Source: Central Bank of Iraq)
Statement at the End of an IMF Mission on Iraq: In 2016, real GDP growth was sustained at 11% supported by a large increase in oil output that benefitted from past oil investments In 2017, economic activity is expected to remain muted due to a 1.5% contraction in oil production and only a tepid recovery […]
By John Lee. The United Kingdom has agreed to provide up to £10 billion ($12 billion) of support to Iraq over the next 10 years through loans to infrastructure development projects under UK Export Finance (UKEF). British Ambassador Frank Baker and Iraq's Acting Minister for Finance Abdlrazaq Alissa [Abdul Razzak al-Essa] signed the Memorandum of […]
By John Lee. The CEO of Iran's Bank Sepah, Mohammad Kazem Choghazardi, has said that since the lifting of sanctions his bank has been active in Iraq. During a meeting with the Iraqi Ambassador to Iran, Rajeh al-Mousavi, this week, he said: “Omid Investment Group, whose main shareholder is Bank Sepah, has invested in some […]
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According to a report released by London-based International Centre for the Study of Radicalization (ICSR) and accounting group Ernst & Young, the Islamic State organisation (IS, ISIS, ISIL, Daesh) is in deep financial trouble. In an interview, ICSR director Peter Neumann stated out that the report clearly shows that while IS used to be the […]
Japan has approved a loan of about $100 million to support humanitarian, counter-terrorism and infrastructure projects in Iraq, a Japanese embassy statement said on Tuesday. In January, Japan approved loans worth $240 million to Iraq to rebuild damaged electricity infrastructure in areas recaptured from Islamic State. Iraq's government income, which comes almost exclusively from oil […]
